Phenolic Resins Market to Reach $7.2 Billion by 2028, According to Stratview Research

Stratview Research, a global market research firm, forecasts the global phenolic resins market to grow at a compound annual growth rate (CAGR) of 3.6% to reach USD 7.2 billion by 2028. The report provides a detailed regional and global market outlook, emerging trends, segmental analysis, competitive landscape, and key market drivers.

The report will serve as a comprehensive tool for decision-making for key stakeholders such as CXOs, business strategists and investors, providing

• Strategic Clarity: We provide insight into market trends, growth opportunities, and emerging challenges to help streamline your business strategy.

• Competitive Intelligence: Analysis of leading companies' market positioning and innovative strategies that drive success.

• Future-ready: Provides a detailed perspective on evolving market trends, technological innovations and industry transformation.

Key highlights of the report:

• Market size in 2028: US$7.2 billion

• 成長率（CAGR）：3.6%（2023～2028年）

• Forecast period: 2023-2028

• Trend period: 2017-2021

• 基準年：2022年

• Number of segments covered: 3

• Number of tables and graphs: 100+

Segment insights:

The report thoroughly analyzes the segments of the Phenolic Resins market, enabling stakeholders to understand key performance indicators and opportunities within each segment.

• By Application: The phenolic resins market is segmented into wood adhesives, molding materials, laminates, fireproofing, insulation, and others. Wood adhesives dominates the market and is expected to remain the major application during the forecast period. This is due to the rising production of wood-based panels, increasing demand for phenolic resins in wood adhesive applications, and increasing use of wood panels in various applications.

• By Resin Type: The market is segmented into resole and novolac. Resole is expected to remain the dominant and fastest growing resin type during the forecast period owing to properties such as superior strength and durability, resistance to water, heat and chemicals, and ease of use.

Regional outlook:

"Asia Pacific is expected to remain the largest and fastest growing market for phenolic resins during the forecast period."

• Increasing investments in various industries such as automotive, construction, electrical & electronics, and rising disposable income are the key factors driving the market in this region.

• China is the leading producer and consumer of phenolic resins. India and Japan are also major countries in the region.

• Europe and North America are other major phenolic resin markets and are expected to show healthy growth rates over the next five years.

Market Drivers:

The growth of the phenolic resins market is driven by a combination of macroeconomic factors, evolving industry needs, and technological innovations. Companies are realizing the need to adapt to market changes and are increasing their investments in research, product development, and strategic alliances to maintain their advantage in the market.

The main factors driving measurable changes in market dynamics are:

• Increasing growth rate of automotive, aerospace, construction, electronics, and packaging industries, growing demand for phenolic resins in various applications, and key properties of phenolic resins such as high strength, durability, resistance to water, chemicals, heat, and fire, and dimensional stability are expected to drive the market growth during the forecast period.

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Key Market Players:

The report profiles prominent companies operating in the Phenolic Resins market and provides detailed insights into their market positioning, key strategies, and competitive advantages.

• Bakelite Synthetics

• Dynea SA

• Jinan Shengquan Group Share-Holding Co., Ltd.

• Prefere Resins Holding GmbH

• Shandong Yushiju Chemical Co., Ltd.

About Stratview Research:

Stratview Research is a global market research firm specializing in critical industries such as aerospace, defense, chemicals, and energy. Our reports provide actionable insights to make confident decisions in competitive markets. We provide highly customized research solutions including market assessment, opportunity screening, voice of customer analysis, and entry strategies to help companies achieve their global and regional growth objectives.

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